Title FIN, California Fin. Code

Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forbeara…

(a) If it appears to the commissioner that a licensee is violating or has violated, or is failing or has failed to comply with any law of this state, the commissioner may direct the licensee to comply with the law by an order issued under the commissioner’s official seal, or if i…

(a) The commissioner may issue an order suspending or revoking a license, or taking possession of and placing a licensee in receivership, if after notice and an opportunity for hearing, the commissioner finds that: (1) The licensee is violating this division or a regulation adopt…

(a) The commissioner may issue an order suspending or revoking the designation of an agent if, after notice and an opportunity for hearing, the commissioner finds that: (1) The agent violated this division or a regulation adopted or an order issued under this division. (2) The ag…

(a) Every order, decision, or other official act of the commissioner is subject to review in accordance with law. (b) Whenever the commissioner has taken possession of the property and business of any licensee, the licensee, within 10 days after that taking, if it deems itself ag…

(a) If the commissioner finds that any of the factors set forth in Section 2149 is true with respect to any licensee and that it is necessary for the protection of the public interest, the commissioner may issue an order immediately suspending or revoking the licensee’s license. …

(a) If the commissioner finds that any of the factors set forth in Section 2150 is true with respect to any agent and that it is necessary for the protection of the public interest, the commissioner may issue an order immediately suspending or barring that agent from continuing t…

The commissioner may assess a civil penalty against a person that violates this division or a regulation adopted or an order issued under this division in an amount not to exceed one thousand dollars ($1,000) for each violation or, in the case of a continuing violation, one thous…

(a) A person that intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under this division or that intentionally makes a false entry or omits a material entry in such a record is guilty of a felony. (b) A …

The enforcement provisions of this division are in addition to any other enforcement powers that the commissioner may have under law. (Amended by Stats. 2012, Ch. 356, Sec. 29. (SB 979) Effective January 1, 2013.)

No person shall, except with the prior approval of the commissioner, acquire control of a licensee. (Amended by Stats. 1996, Ch. 1064, Sec. 669. Effective January 1, 1997. Operative July 1, 1997.)

If the commissioner finds, with respect to an application for approval to acquire control of a licensee: (a) That the applicant and the directors and officers of the applicant are of good character and sound financial standing; (b) That it is reasonable to believe that, if the ap…

(a) For purposes of Section 31551, the commissioner may find: (1) That an applicant or a director or officer of an applicant is not of good character if such person has been convicted of, or has pleaded nolo contendere to, a crime involving fraud or dishonesty. (2) That an applic…

The commissioner may, by such regulations or orders as he or she deems necessary and appropriate, either unconditionally or upon specified terms and conditions or for specified periods, exempt from the provisions of this chapter any person or transaction or class of persons or tr…

The provisions of this division are severable. If any provision of this division or its application is held invalid, that invalidity shall not affect other provisions or applications that can be given effect without the invalid provision or application. (Added by Stats. 2023, Ch.…

Any licensee that voluntarily has ceased to do the business for which it is licensed shall immediately notify the commissioner and proceed to liquidate its affairs. Any share or deposit or other sum that has not been paid to the person entitled thereto within six months after the…

If the licensee referred to in Section 720 is a state-chartered credit union and the commissioner has taken possession of the business and property of the credit union, the commissioner may appoint a liquidating agent or a liquidating committee of three members of the credit unio…

(a) Every federal association and the holders of stock, shares, share accounts, savings accounts, and certificate accounts issued by any federal association have all the rights, powers, and privileges, and are entitled to the same exemptions and immunities granted, respectively, …

No director of a federal association shall be liable for monetary damages to the federal association, its stockholders or members, based upon the laws of this state, to the extent that the stockholders, or in case of a mutual federal association the members of the federal associa…

The commissioner and the department shall have all the investigatory and subpoena powers set forth in Sections 11180 to 11191, inclusive, of the Government Code and any subpoena may further require a person to: (a) Produce documentary material for inspection and copying or reprod…

With respect to the enforcement powers of the commissioner and the department under this division, all of the following apply: (a) The department may take any action authorized by this law against a covered person or service provider who engages, has engaged, or proposes to engag…

The department may bring a civil action in accordance with the following: (a) If a person violates any provision of this division, rule or final order, or condition imposed in writing by the department, the department may bring an action in the name of the People of the State of …

The following limitations apply to actions brought under this division: (a) Except as otherwise permitted by law or equity, including provisions under any consumer financial law, no civil action may be brought under this division more than four years after the date of discovery o…

(a) The department may conduct hearings and adjudication proceedings with respect to any person in order to ensure or enforce compliance with both of the following: (1) The provisions of this division, including any rule, final order, or condition imposed by the department, under…

The commissioner shall not outsource or delegate enforcement authority under this division to a private attorney. (Added by Stats. 2020, Ch. 157, Sec. 7. (AB 1864) Effective January 1, 2021.)

In regard to cooperation with the Attorney General, the following provisions apply: (a) The department may enter into an agreement with the Attorney General with respect to civil actions by each agency. (b) A provision of this division, any regulation or order made under the auth…